The Yen got stabilized. Overview for 24.11.2017

The USD/JPY pair is growing a little bit on Friday; investors are looking for some balance after the previous descending wave.

At the end of the week, the Japanese Yen is retreating a bit against the USD and it’s quite logical after it skyrocketed several days ago. The current quote for the instrument is 111.45.

In the morning, japan published the statistics that made investors happy. The Flash Manufacturing PMI in November increased up to 53.8 points after being 52.8 points the month before and against the expected reading of 52.6 points.

The indicator continues improving and that’s a good thing for the Japanese economy. Any reading, which is higher than 50 points, means that the manufacturing activity in the country is increasing. One should note that the current number is the highest in more than 40 months. The main contribution was made by new orders. The previous decline of the Yen rate attracted new buyers to the sector. It’s a very good signal for the GDP in the fourth quarter.

At the moment isn’t demanded as a “safe haven” asset. Investors aren’t waiting for any surprises from the US Federal Reserve – its policy is rather clear right now – that’s why they are calm.

RoboForex Analytical Department